Mathematical Probability Theory
A confidence interval is a range of values, derived from a data set, that is likely to contain the true value of an unknown population parameter. It provides an estimated range that reflects the uncertainty associated with the sampling process and is typically expressed at a certain confidence level, such as 95% or 99%. This concept is crucial for understanding the reliability of estimations made from sample data, especially when utilizing various estimation methods, analyzing relationships in multiple linear regression, or applying limit theorems to draw conclusions about large samples.
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